Dhaka, June 13 -- Oil surged, stocks fell and investors sought safety in the US dollar and government bonds Friday after Israel struck Iranian nuclear and military targets in an attack that raised the risk of war between the two countries and broader instability in the Middle East.

Futures for the S&P 500 fell 0.9% before the opening bell, while futures for the Dow Jones Industrial Average were down 1%. Nasdaq futures slid 1.1%.

US benchmark crude oil rose by $4.73, or 6.9%, to $72.77 per barrel, its biggest gain since the early days of Russia's attack on Ukraine more than three years ago. Brent crude, the international standard, climbed $4.58 to $73.94 per barrel, also the largest single-day jump since the Russian invasion.

Oil prices...